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MarketScreener Homepage  >  Equities  >  Johannesburg Stock Exchange  >  MTN Group Limited    MTNJ   ZAE000042164

MTN GROUP LIMITED

(MTNJ)
  Report  
End-of-day quote. End-of-day quote Johannesburg Stock Exchange - 05/17
100.01 ZAR   -0.64%
06:07aMTN : Real Owners of MTN Nigeria Revealed
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MTN : Real Owners of MTN Nigeria Revealed

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05/20/2019 | 06:07am EDT

Last Saturday's listing of MTN Nigeria shares on the Premium Board of the Nigerian Stock Exchange (NSE) has made it possible to identify the shareholders of the telecoms firm.

Many Nigerians believed the Nigerian government owned part of the South African firm through an unspecified equity holding by the Nigeria Sovereign Investment Authority (NSIA).

But, a review of the listing memorandum filed by MTN Nigeria in support of its application for the enlistment of its shares on the NSE revealed the profiles of the shareholders of the company.

The list did not include either the Nigerian government or the NSIA. PREMIUM TIMES learn that although the NSIA did invest in MTN Nigeria, it has since divested from it.

The document dated May 15, 2018 showed 11 owners of MTN Nigeria. They own the entire 20,354,513,050 Ordinary Shares of the company valued at about N407.1 billion as at the time MTN applied to listed.

They include the majority shareholder, MTN International (Mauritius) Limited, which has the controlling 76.08 per cent equity, or 15,485,544,050 shares valued at about N309.71 billion, and Stanbic IBTC Asset Management Limited with 9.77 per cent stake, or 1,988,269,050 shares valued at about N39.77 billion.

Also included are six Nigerians, who are non-executive directors of the board of the company. Each represents various foreign interests in the company.

Victor Odili, a Nigerian, and Chairman of Aeromaritime Group of companies, a group specialising in the maritime and oil and gas sectors of Nigeria's economy, is a member of the board. He holds 806,886,900 shares, or 3.96 per cent interest, valued at about N16.14 billion indirectly on behalf of Hermitage Overseas Corporation.

Also, Pascal Dozie, a Nigerian and founder of the defunct Diamond Bank PLC, is the Chairman of the Board of Directors. He holds 340,409,900 shares, or 1.67 per cent equity valued at N6.67 billion, indirectly, on behalf of Celtelecom Investment Limited, NISPV Limited.

Another Nigerian, Sani Mohammed Bello, a co-founder of AMNI Petroleum, an indigenous oil and gas exploration companies, is the vice chairman of the board. He holds 265,092,150 shares (1.30 per cent equity) estimated at about N5.3 billion indirectly on behalf of One Africa Investment Limited.

Babatunde Folawiyo, a Nigerian and Chairman/Chief Executive Officer of the Yinka Folawiyo Group, holds 218,815,100 shares, or 1.07 per cent equity, valued at N4.01 billion on behalf of Universal Communications NISPV Limited.

Similarly, Gbenga Oyebode, a Nigerian and founding partner of Aluko & Oyebode law firm, represents the interest of N-Cell NISPV Limited. He holds 181,776,250 shares, or 0.89 per cent equity, valued at N3.27 billion.

Ahmed Dasuki, a Nigerian and founder of Quaditect Consultants, represents NISPV Limited/ SASPV Limited, which controls 177,717,850 shares, or 0.75 per cent equity valued at about N2.89 billion.

Government Employees Pension Fund (Represented by Public Investment Corporation SOC Limited) were also listed as owners with 355,281,650 shares (1.75 per cent equity) valued at about N7.11 billion.

Also, Mobile Telephone Network N.I.C.B.V holds 559,720,150 shares, or 2.75 per cent, valued at about N11.19 billion.

New Status

With the listing of the company's shares on the NSE, MTN Nigeria becomes the first privately owned telecoms company in Nigeria to attain that status.

The listing of the company on the premium board of the NSE on April 18, 2019 resulted in the change of the company from a private company to a publicly quoted telecoms company on the NSE.

MTN Nigeria, a subsidiary of MTN International (Mauritius) Limited, was incorporated in the Republic of Mauritius, with its ultimate holding company, MTN Group.

The company was incorporated in November 8, 2000. But, it did not commence operations until 2001. Since then, the company has remained in operations for almost 18 years in Nigeria.

MTN Nigeria is reputed to be Nigeria's largest telecoms operators, with about 67 million subscribers, controlling about 39 per cent mobile market share.

Copyright Premium Times. Distributed by AllAfrica Global Media (allAfrica.com)., source News Service English

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Financials (ZAR)
Sales 2019 149 B
EBIT 2019 27 558 M
Net income 2019 12 139 M
Debt 2019 61 501 M
Yield 2019 5,44%
P/E ratio 2019 15,22
P/E ratio 2020 12,31
EV / Sales 2019 1,68x
EV / Sales 2020 1,57x
Capitalization 188 B
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Mean consensus OUTPERFORM
Number of Analysts 8
Average target price 108  ZAR
Spread / Average Target 7,7%
EPS Revisions
Managers
NameTitle
Robert Andrew Shuter Group President, CEO & Executive Director
Phuthuma Freedom Nhleko Non-Executive Chairman
Jens Schulte-Bockum Group Chief Operating Officer
Ralph Tendai Mupita Group Chief Financial Officer & Executive Director
Charles Molapisi Chief Information & Technology Officer
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